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Amid record inflation and marked stock market volatility in 2022, it’s no surprise saving money is on the minds of many.
Looking ahead to the rest of 2023, it’s important to start thinking about how to save money and make finances more secure.
The Benzinga team came up with 10 short but effective tips to saving money in 2023:
1. Create a Budget: Although seemingly obvious, many fail to take the time to make a budget. Creating a budget is a great way to get a better handle on finances and start saving money. Consider tracking income, expenses and savings to ensure spending is within means.
2. Use Cash Back Apps: There are plenty of cash-back apps available in 2023 that earn money back on purchases. This is a way to save money while also getting something back in return.
3. Automate Your Savings: Automating savings can help make sure money is consistently put aside each month. Set up automatic transfers from a checking account to a savings account.
See Also: Best Savings Accounts
4. Use Discount Coupons: Discount coupons can save money on purchases. With the advent of modern technology, many grocery chains offer digital coupons via mobile apps, and the savings can add up fast. As usual, coupons can be found online or in the Sunday paper.
5. Shop at Thrift Stores: Shopping at thrift stores can be a great way to save money. Moving to a new town? Great deals can be found on clothing, furniture and other items.
6. Buy in Bulk: Buying in bulk can save money on items used regularly. Larger quantities of items can come with a discounted price.
7. Reduce Energy Costs: Reducing energy costs can be done by unplugging appliances when not in use, using energy-efficient light bulbs and setting the thermostat at a lower temperature.
8. Cut Down on Eating Out: Eating out can be expensive, so cutting down on how often you eat out can help save money. Cook meals at home and pack a lunch for work instead of eating out.
9. Use Public Transportation: Using public transportation instead of driving can be a great way to save money on gas and wear and tear on a car.
10. Negotiate Your Bills: Negotiating bills with cable and phone companies can be a great way to save money. Although asking for a discount won’t guarantee one, it never hurts to try.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Sarawut Chainawarat via Shutterstock
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Image and article originally from www.benzinga.com. Read the original article here.